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Motorola to cut another 2,600 jobs

07 апреля 2008

U.S. vendor to take Q1 pre-tax charge of $104 million on layoffs; has cut 10,000 positions since start of 2007.

Motorola, which is struggling to cope with a sharp plunge in cellphone sales, said it expects to take a first-quarter pretax charge of $104 million for severance costs related to the latest job cuts.

The Schaumburg, Ill., telecommunications-equipment maker said the estimated charge is composed of $113 million in charges for severance costs, partially offset by $9 million in reversals for accruals from prior periods that are no longer needed, according to a Securities and Exchange Commission filing Thursday.

The layoffs are the first wave of a planned $500 million cost-reduction for this year."The work-force reductions are intended to make financial resources available for strategic business investment, while better aligning operational costs and expenses with business growth," the company said in a statement.

The company said all three of its business segments, as well as various corporate functions, are affected by these plans.

Motorola had 66,000 workers as of Dec. 31, 2007, according to its annual report filed in February. Based on that figure, the 2,600 job cuts would represent around a 3.9% reduction in its work force.

Included in the 2,600 jobs to be cut are 700 being eliminated as a result of Motorola's decision to end mobile manufacturing operations in Singapore by the end of 2008. Also included are 354 jobs cut in Plantation, Fla., where handsets for use on mobile broadband WiMax networks were being developed.

Motorola said last week that it will split into two publicly traded companies, separating its mobile device operations from other businesses, which make set-top cable boxes, wireless network equipment, public-safety radios and other products.

Источник: Total Telecom

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